New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-16
financial
THE PHILADELPHIA AND READING
RAILROAD COMPANY.
CENTRAL OFFICE, 227 SOUTH FouRrr.sr.,
PHIIApEI PNIA Feb. To- 1887.

PHILADELPHIA, Feb 10. 1887.
TO THE HOLDERS OF SECURITIES IN THE PHILA.
DELPHIA AND READING RAILROAD COMPANY
On the frstday of March expires within which
the various securities be posted under plan Of
oeahzon and in enough have been deposited then
10 warrant the trustees in deciding reorganze without fore
closure The plan provides that foreclosure and sale will be
had only IN The interest OF such have deposited prior that
data The Court has declared that delays will
Do permitted and unless reorganization be promptly effected
IL VIII feel at liberty 10 vacate the receivrshp 1t IL most
important for all interests that such contingency should be
avoided Therefore, all persons who desire to participate in
this plan for the reorganization of the property should act
promptly make tho deposit and pay the assessments where
such are required, within the time limited.
That the present pan with without Foreclosure will
succeed In my opinion beyond doubt and the above notice
given that holders clearly understand that deposits OF
all classes CT securities must be made promptly there being
determination the part Of all parties In interest that no
delay VIII DO permitted TO interfere with speedy reorganza
GENERAL MORTGAGE BONDS
Holders should deposit bonds with Nessrs Drexel Co.,
Philadelphia; Drexo, Morgan & Co., Ncw.York. or j. s.
Morgsn Co. London before March l. 1887. NO
gotiabe certificate bearing pcr interest from January
1855 Will be given for each bond ho maurei interest on
said certificate from January 1886 to January 1897 viii
be paid In CASH the have the right to pay on tho
General Mortgage Bonds principal and interest before tho
1st OF July 1885, and paid viii issue for each
bond
New per General Mortgage bond 900
The $3.50 being for unpaid OF January AMI July
1885, and January 1886 and compensation for the reduc
ton OF interest Tho per General Mortgage bondholers
will receive $500 in ls Preference bonds instead of $780, as
above.
Holders Of the following named securities should deposit
them before March lst with Messs Brown Bros Co.,
Phadelph New York. Brown, shipley Co, London
Temporary receipts will be given exchangeabe into nego
liable certificates when For these neeo
table certificates the reorganzed will issue the new
securities named after each hereafter specified AS
will be made follows. and will be
called for in monthly nstamcnts OF 25 cent EACH and 30
days notice by advertisement Will be given prior 10 each call
For all money paid account OF assessments the company
will issue First Preference per cent Income Mortgage
bonds which will the reorsanzed company next after
the General bonds the bonds Issued therefor;
For INCOME MORTGAGE BONDS.
For CONVERTIBLE ADJUSTMENT SCRIP.
For DEBENTURE AND GUARANTEE SCRIP.
For FIRST SERIES PER CENT CONSOLIDATED
MORTGAGE BONDS
There will given Second Preference Income Mortgage
bonds Assessment 500 per 81 o0o OF bonds or SCRIP
For I'd SERIES 8 PER CENT CONSOLIDATED MORT
GAGE BONDS
There given 30 per Second Preference In
Mortgage 80 per OF Third Preference
Mortgage bonds $3.50 per $1,000 bond
For CONVERTIBLE BONDS OF THE RAILROAD
COMPANY.
For DEBENTURE BONDS OF THE RAILROAD COM
PANY
For DEBENTURE BONDS OF THE COAL AND IRON
COMPANY.
There given Third Preference Income Mortgage
bonds. Assessment 800 per $1,000 bond.
FOR PREFERRED STOCK,
There viii lie $50 Of Third Preference Income Mort
bonds for each share. Assessment, 80 per share.
FOR COMNON STOCK
There will given certificates OF nterest In tho Voting
equivalent the deposited. Assessment $40
per share.
DEFERRED INCOME BONDS,
When deposited w be stamped asserting To the plan aud
returned depoor s23 for $1,000 Of bonds
{or 20 bonds OF $50 oach).
For tho overdue interest ~ the abovcnamed ecuri
ties there Will be given tie KIND OF bonds that given
for tho principal
uoler residing al distance from Philadelphia. New
York or London should their urtc' 10y reg'tcred mail
10 the derosor!cs by properly executed powers
Of attorney forms which viii be supplied Application 10
tho deposoric. or W. H. TAYLOR secretary T. ana H. H.
Co. Philadelphia.
sISTIS .,nKRIN Prr.idcnt.